Global Agrochemicals Market 2017-2021: Top Drivers and Industry Forecasts by Technavio

July 24, 2017

#AgrochemicalsandFertilizers--Technavio market research analysts forecast the global agrochemicals market to grow at a CAGR of more than 3% during the forecast period, according to their latest report.

The market study covers the present scenario and growth prospects of the global agrochemicals market for 2017-2021. The report also lists fertilizers and pesticides as the two major product segments, of which the fertilizers segment accounted for more than 56% of the market share in 2016.

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.

Technavio analysts highlight the following three market drivers that are contributing to the growth of the global agrochemicals market:
- Increasing use of herbicides
- Growing demand from developing countries
- Technological improvements leading to efficient methods of agriculture
Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

Increasing use of herbicides

Huge investments are being made for the development of new varieties of herbicides that are more effective and eco-friendly. Applications of herbicides are spread across varieties of crops, including cereals, grains, fruits, vegetables, oilseeds, and pulses. The shift in consumer preference toward fruits and green vegetables is propelled by increasing awareness with respect to health and fitness. This is also fueling the increased use of herbicides in agricultural applications.

Dow Chemical has recently launched two new grassland herbicides, Levstar and Envy. The company claims that these herbicides can protect crops from weeds that are resistant to existing herbicide products.

“Players in the global agrochemicals market are spending a considerable proportion of their revenue on R&D activities to bring in new and innovative products in the market such as bio-based herbicides. Although these herbicides are eco-friendly, they are relatively expensive solutions for controlling weeds that have become resistant to chemical-based herbicides,” says Ajay Adikhari, a lead analyst at Technavio for agrochemicals and fertilizers research.

Growing demand from developing countries

There is high growth potential for the agrochemical market in the untapped, emerging markets of India and China. Currently, India's consumption of pesticide stands at 0.6 kilograms per hectare, which is among the lowest compared with 5-7 kilograms per hectare in the UK and nearly 13 kilograms per hectare in China. With increasing awareness among farmers, further penetration will lead to a rise in the consumption pattern. These two economies with the largest population, have a rural belt of more than 67% in China and 44% in India.

“China's agricultural output is approximately 140% more than India and 68% more than the European Union. The rising demand for food and the decrease of land for crop cultivation, especially in developing countries, will propel the use of agrochemicals for the improvement of farm yield and reduction of crop loss,” says Ajay.

Technological improvements leading to efficient methods of agriculture

The rapidly growing world population and proportionately declining arable land have led to the need for improvement in agricultural production. Advancements in new breeding technologies claim to improve yields, as well as increase the lifespan of crops. For instance, genetic modifications improve the crop yield by increasing fertilizer absorption capacity. However, these crops still require agrochemicals such as pesticides because they are not completely pest resistant. Therefore, the requirement of pesticides will increase with the rise in the adoption of GM crops.

The development of efficient methods of farming will result in causing less harm to the environment and human health. Therefore, new technological advancements will further drive the global agrochemicals market during the forecast period.

Browse Related Reports:
About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
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LONDON–(BUSINESS WIRE)–#AgrochemicalsandFertilizers—Technavio
market research analysts forecast the global
agrochemicals market to grow at a CAGR of more than 3%
during the forecast period, according to their latest report.

The market study covers the present scenario and growth prospects of the
global agrochemicals
market for 2017-2021. The report also lists fertilizers and
pesticides as the two major product segments, of which the fertilizers
segment accounted for more than 56% of the market share in 2016.

This report is available at a USD 1,000 discount for a limited time
only: View
market snapshot before purchasing

Buy 1 Technavio report and get the second for 50% off. Buy 2
Technavio reports and get the third for free.

Technavio analysts highlight the following three market drivers that are
contributing to the growth of the global agrochemicals market:

Increasing use of herbicides
Growing demand from developing countries
Technological improvements leading to efficient methods of agriculture

Looking for more information on this market? Request
a free sample report

Technavio’s sample reports are free of charge and contain multiple
sections of the report including the market size and forecast, drivers,
challenges, trends, and more.

Increasing use of herbicides

Huge investments are being made for the development of new varieties of
herbicides that are more effective and eco-friendly. Applications of
herbicides are spread across varieties of crops, including cereals,
grains, fruits, vegetables, oilseeds, and pulses. The shift in consumer
preference toward fruits and green vegetables is propelled by increasing
awareness with respect to health and fitness. This is also fueling the
increased use of herbicides in agricultural applications.

Dow Chemical has recently launched two new grassland herbicides, Levstar
and Envy. The company claims that these herbicides can protect crops
from weeds that are resistant to existing herbicide products.

“Players in the global agrochemicals market are spending a
considerable proportion of their revenue on R&D activities to bring in
new and innovative products in the market such as bio-based herbicides.
Although these herbicides are eco-friendly, they are relatively
expensive solutions for controlling weeds that have become resistant to
chemical-based herbicides,” says Ajay Adikhari, a lead analyst at
Technavio for agrochemicals
and fertilizers research.

Growing demand from developing countries

There is high growth potential for the agrochemical market in the
untapped, emerging markets of India and China. Currently, India’s
consumption of pesticide stands at 0.6 kilograms per hectare, which is
among the lowest compared with 5-7 kilograms per hectare in the UK and
nearly 13 kilograms per hectare in China. With increasing awareness
among farmers, further penetration will lead to a rise in the
consumption pattern. These two economies with the largest population,
have a rural belt of more than 67% in China and 44% in India.

“China’s agricultural output is approximately 140% more than India
and 68% more than the European Union. The rising demand for food and the
decrease of land for crop cultivation, especially in developing
countries, will propel the use of agrochemicals for the improvement of
farm yield and reduction of crop loss,” says Ajay.

Technological improvements leading to efficient methods of agriculture

The rapidly growing world population and proportionately declining
arable land have led to the need for improvement in agricultural
production. Advancements in new breeding technologies claim to improve
yields, as well as increase the lifespan of crops. For instance, genetic
modifications improve the crop yield by increasing fertilizer absorption
capacity. However, these crops still require agrochemicals such as
pesticides because they are not completely pest resistant. Therefore,
the requirement of pesticides will increase with the rise in the
adoption of GM crops.

The development of efficient methods of farming will result in causing
less harm to the environment and human health. Therefore, new
technological advancements will further drive the global agrochemicals
market during the forecast period.

Browse Related Reports:

About Technavio

Technavio
is a leading global technology research and advisory company. Their
research and analysis focuses on emerging market trends and provides
actionable insights to help businesses identify market opportunities and
develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists
of more than 10,000 reports and counting, covering 800 technologies,
spanning across 50 countries. Their client base consists of enterprises
of all sizes, including more than 100 Fortune 500 companies. This
growing client base relies on Technavio’s comprehensive coverage,
extensive research, and actionable market insights to identify
opportunities in existing and potential markets and assess their
competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team
at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US:
+1 630 333 9501
UK: +44 208 123 1770
www.technavio.com